British fund 515 Capital invests in Russian app developer

Russian mobile app developer Ipadizer has raised in the region of $1 million from UK-based fund 515 Capital. As a result of the deal Ipadizer has been rebranded Iconic Mobile.

The project will use the money to expand its services, employ additional programmers and designers and also to support its growing client base. Since the project was founded in 2011 by Alexey Pospekhov it has helped companies including LG, Carlo Pazolini, Lexus, Jaguar, Land Rover, PwC and Hewlett Packard to develop advanced mobile services, business apps, and payment systems.

It plans to use its British connection to employ more UK-based staff, who will work with the company’s international clients. Iconic Mobile also intends to improve brand awareness by attending more international app-related events.

515 Capital have a successful track record working with mobile app projects. In 2012 it invested in Grapple Mobile, a British company that has developed apps for FIFA, Lloyds TSB, Virgin, MacDonalds, Adidas, P&G and others. In 2013 it exited the project when it was bought by Monitise.

515 Capital’s investment manager Daniel Attia commented that

“Intially we noticed the excellent track record of the team led by Alexey Pospekhov in developing sophisticated mobile solutions. Their projects are comparable in quality and innovation to solutions of the highest international standards.”

Alexey Pospekhov, CEO of Iconic Mobile, added that

“With the growing popularity of smartphones and tablets, an increasing number of companies are aware of the need to develop first-class mobile services in order to maintain competitiveness.”